Here's how Tesla stock swings 18% higher, trader says

The stock was up more than 5% at midmorning after Jefferies upgraded it to buy on the company's leadership in the electric-vehicle market.

Tesla shares were trading Monday around $505. A move to at least $600 marks 18% upside for the stock. "This stock is so overpriced but [CEO Elon Musk] has certainly shown his ability to get the job done, and to continue to produce," Sanchez said during the same segment. "It has been a volatile stock, and that volatility continues because of the pessimism-optimism swing."

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Jefferies upgrades Tesla, predicts nearly 30% comeback and return to energy efficiency post crisisNew for subscribers: Jefferies upgrades Tesla, predicts nearly 30% comeback and return to energy efficiency post crisis Check out CNBCPro and get your first 30 days free. Pro Teslas costs too much. If Tesla could bring prices down significantly then maybe but otherwise I don't see that Pro
Source: CNBC - 🏆 12. / 72 Read more »